China’s XIO Group acquires Israeli Lumenis for $510 million

XIO is paying a 16% premium on the share price of the Israeli medical device company.

Lumenis_One_IPL_handpiece

Lumenis Ltd. (Nasdaq:LMNS), was acquired by Chinese investment fund XIO Group for $14.00 per share in cash, for an aggregate purchase price of approximately $510 million.

Israel based Lumenis medical company focuses on surgical, ophthalmology and aesthetic applications.

“This acquisition is a strong recognition and vote of confidence in Lumenis’ achievements and its employees, and I am excited about the future prospects of Lumenis, ” said Tzipi Ozer-Armon, Chief Executive Officer. “Over the past 3 years we have managed to transform Lumenis into a strong, growing and profitable company. We have refocused our strategy, introduced new products, and tripled our EBITDA. Furthermore, we have created a very bright and promising future for Lumenis by building a robust pipeline of innovative products, a strong sales team in each region, and by enhancing our global brand recognition. I am confident that we will continue to thrive and reach new heights together with XIO Group.”

The Board of Directors of each of Lumenis and XIO Group has approved the transaction and is expected to close in September 2015.

The two largest shareholders of Lumenis, Viola Group and XT Hi-Tech Investments (1992) Ltd., which collectively own approximately 59% of the shares of Lumenis, have entered into a customary voting agreement with XIO Group.

Goldman Sachs acted as the exclusive financial advisor to Lumenis in respect of this transaction. Morgan Stanley acted as the exclusive financial advisor to XIO Group.

 

– The cosmetic laser company raised $75 million, below the $100 million it sought. – – / By Shmulik Shelach and Tali Tsipori / Lumenis Ltd. raised a gross $75 million in its IPO on Nasdaq, in its return More…

Lumenis_One_IPL_handpiece

By Ilan Shavit On Sunday, February 16th, 2014

Israeli Medical Laser Co Lumenis Set to Raise $100 Million on Nasdaq

– The company is returning to Nasdaq after delisting in 2005. – – The Yokneam-based company Lumenis Ltd. announced that it is set to raise $100 million on the Nasdaq. The company develops, manufactures More…

Lumenis_One_IPL_handpiece

By Gali Weinreb On Monday, December 9th, 2013

Lumenis Files to Raise $115 Million on Nasdaq

– The laser surgical devices company plans to hold the IPO in the first quarter of 2014. –   Lumenis Ltd., a developer of lasers for minimally invasive surgical procedures, has filed a prospectus with the More…

Lumenis_One_IPL_handpiece

By Gali Weinreb On Sunday, November 10th, 2013

Lumenis to Raise $100 Million on Nasdaq

– The medical devices company plans to raise the money at a company valuation of $500 million by February. – – Sources inform ”Globes” that Lumenis Inc. has set a target date of February 14 More…

Read more about: , , , , , , , , , , , , , , , ,

Wordpress site Developed by Fixing WordPress Problems